US natural gas futures slipped to about $2.98 per MMBtu on Friday, paring gains from the previous session, after the Trump administration signaled it is weighing several measures to counter rising energy prices stemming from the conflict in the Middle East. Even with the pullback, prices remain on course for a weekly advance of more than 4%, as markets worry that the conflict could trigger prolonged disruptions to critical gas supplies from the region.
Uncertainty over when QatarEnergy’s Ras Laffan facility—the world’s largest LNG export hub—will resume full operations has amplified fears of a potential supply shortfall, especially with the Strait of Hormuz also closed. Prices have found additional support from a larger-than-expected withdrawal from storage and warmer weather forecasts, which are pointing to stronger-than-anticipated demand this week.
